<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>2448-718X</journal-id>
<journal-title><![CDATA[El trimestre económico]]></journal-title>
<abbrev-journal-title><![CDATA[El trimestre econ]]></abbrev-journal-title>
<issn>2448-718X</issn>
<publisher>
<publisher-name><![CDATA[Fondo de Cultura Económica]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S2448-718X2014000400875</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[Sistemas regionales de pago. Una perspectiva comparativa sobre Europa y el mundo en vías de desarrollo]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Fritz]]></surname>
<given-names><![CDATA[Barbara]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Biancarelli]]></surname>
<given-names><![CDATA[André]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Mühlich]]></surname>
<given-names><![CDATA[Laurissa]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidad Libre de Berlín Instituto de Estudios Latinoamericanos Departamento de Economía]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Germany</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Universidade Estadual de Campinas Instituto de Economía ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Brazil</country>
</aff>
<aff id="Af3">
<institution><![CDATA[,Universidad Libre de Berlín Instituto de Estudios Latinoamericanos Centro de Estudios Brasileños]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Germany</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>12</month>
<year>2014</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>12</month>
<year>2014</year>
</pub-date>
<volume>81</volume>
<numero>324</numero>
<fpage>875</fpage>
<lpage>908</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S2448-718X2014000400875&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S2448-718X2014000400875&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S2448-718X2014000400875&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen: El &#8220;no sistema&#8221; financiero mundial vigente se caracteriza por la inestabilidad. A falta de soluciones globales, ha surgido una serie de convenios regionales de cooperación monetaria para hacer frente a esta inestabilidad. Este artículo se centra en sistemas regionales de pagos como primer paso de cooperación monetaria regional. A fin de evaluar sus posibles contribuciones para lograr una mayor estabilidad macroeconómica de los países miembros, desarrollamos una tipología de los sistemas de pagos y comparamos de manera sistemática iniciativas históricas y actuales de Europa, Asia y América Latina, utilizando como referencia el Plan Keynes original. Mostramos que los sistemas regionales de pagos implican efectos benéficos en la medida en que reducen los costos de transacción del comercio intrarregional y crean incentivos para una mayor cooperación macroeconómica. Sin embargo, su contribución a la estabilización macroeconómica depende del diseño específico de cada acuerdo regional.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract: The current global financial &#8220;non-system&#8221; is marked by instability. In the absence of global solutions, a series of regional arrangements of monetary cooperation have been emerging to cope with such instability. This paper focuses on regional payment systems as an initial step of regional monetary cooperation. In order to evaluate their potential contribution to increase macroeconomic stability of the member countries, we develop a typology of payments systems and systematically compare historic and present initiatives in Europe, Asia and Latin America with reference to the original Keynes Plan. We show that regional payment systems entail beneficial effects by reducing transaction costs of intra-regional trade, and by creating incentives for further macroeconomic cooperation. Their contribution to macroeconomic stabilization however depends on the specific design of the respective regional arrangement.]]></p></abstract>
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<kwd lng="es"><![CDATA[integración monetaria regional]]></kwd>
<kwd lng="es"><![CDATA[sistemas regionales de pago]]></kwd>
<kwd lng="es"><![CDATA[Plan Keynes]]></kwd>
<kwd lng="es"><![CDATA[arquitectura internacional]]></kwd>
</kwd-group>
</article-meta>
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